Purpose of Report: Insurance Valuation
Date of Report: Dec 2022
Address: Wentworth Point
Total Replacement Value: $11m – $12m
Asset Strata Valuers had the privilege of being appointed to provide an Insurance Valuation Report for One The Waterfront, located at Wentworth Point.
The Community Association has been created to manage the facilities of the development.
The site was formally an industrial wasteland until being sold for development purposes to Piety Group. The development includes commercial/retail buildings and residential apartment complexes under their own strata plans and community facilities including children’s playgrounds, BBQ facilities, tennis courts and both indoor and outdoor swimming pools.
Asset Strata Valuers were instructed to provide an insurance valuation report specific to areas of the community association including;
- The asphalt roads, concrete pathways, timber bridges, gazebo, children’s playground, lookout point, foreshore and streetlights.
- Outdoor swimming pool, metal pergola, tiled walkways and landscaped areas.
Asset Strata Valuers was given the task of providing a comprehensive Insurance Valuation Report for the Community Association. After spending significant time on-site inspecting all aspects of the site, measuring, taking photo documentation and writing up our field notes we completed our inspection.
Our detailed report took approximately 2 full days to establish the framework which was then tailored specifically to the Community Association needs. Initially Asset Strata Valuers list the major items within each Lot and establish a their replacement prices. We then establish measurement and value per item within each Lot. Once the collation of all the necessary information on each Lot we were able to put together a comprehensive calculation spreadsheet on each Lot and arrive at a total replacement value in the range of $11m – $12m.
Download Wentworth Point – Case Study
